On October 4, 2024, the Canadian Dairy Commission (CDC) shared the findings of its Cost of Production (COP) survey with stakeholders, who were given until October 11 to decide whether to initiate the Exceptional Circumstances (EC) process. This option was available because the difference between the change in the Indexed Cost of Production (iCOP) and the Consumer Price Index (CPI) was 5.82 percentage points, exceeding the 5-point threshold outlined in EC criteria.
With no requests for EC submitted, the CDC will apply the National Pricing Formula (NPF) to set the milk price adjustment scheduled for February 1, 2025. Between October 17 and 22, the CDC Board will consult on support pricing only, and final price adjustments for 2025 are expected to be announced by November 1 to ensure adequate supply chain notification.
For details on the COP survey’s methodology and its role in determining farmgate milk prices, stakeholders can review the CDC’s resources on the Annual Cost of Production Survey and Pricing Milk at the Farm Level. COP survey results for 2023 are also available for reference.
